Quick Answer: Is Hong Kong Good For Expats?

What is the average cost of an apartment in Hong Kong?

How expensive is housing and accommodation in Hong Kong?Renting in Hong KongAverage monthly costOne bedroom apartment (city centre)HK$16,551One bedroom apartment (outside of city centre)HK$11,006Three bedroom family home (city centre)HK$39,800Three bedroom family home (outside of city centre)HK$23,4262 more rows•Aug 31, 2017.

What is a good salary in Hong Kong 2020?

As of January 2020, the new minimum salary is of HK$ 37.5. It is also a good figure to base you research on, if you are coming to HK as an expat. The current average salary per month is 19100 HKD (2430 USD) for male workers and 14700 HKD (1875 USD) for female workers.

How much tax do I pay in Hong Kong?

Individuals are taxed at progressive rates on their net chargeable income (i.e. assessable income after deductions and allowances) starting at 2% and is capped at 17%; or 15% of net income (i.e. income after deductions only), whichever is lower. For further details, refer to Hong Kong Personal Income Tax guide.

Is it safe to move to Hong Kong?

Hong Kong is much safer than the UK and the crime rate is almost zero. The tax rate is much lower and the pay is much higher, meaning you get a far better standard of living over here. The transportation is far better and cheaper than the UK.

Will property prices fall in Hong Kong?

Hong Kong property prices likely to fall across the board in 2020. … The number of transactions for new flats costing between HK$4 million and HK$6 million climbed 72 per cent to 4,900 deals in 2019. The number of homes priced from HK$6 million to HK$8 million jumped 34 per cent to 4,988, according to Ricacorp data.

How much do you need to live comfortably in Hong Kong?

You should allow for HK$30,000 to HK$50,000 (US$3,900 to US$6,500) per year for other living costs, including food, leisure, transportation, and personal items, depending on how extravagantly you plan to live.

Where do most expats live in Hong Kong?

So with all that in mind, the following 7 areas of the city are the best places to live for expats in varying circumstances.Happy Valley/Jardine’s Lookout – Upmarket Living. … Kowloon Tong & West Kowloon – Good for Families. … The Mid Levels – Wonderfully Central. … Repulse Bay & Stanley – Offering the Beach Life. … The Peak.More items…•

Is it easy to get job in Hong Kong?

Although Hong Kong has a reputation as an expat playground, it has never been harder to find a job here. Competition from mainland immigrants is fierce, and work visa rules are tighter than ever before. … Finding work for the lone expat is much more difficult, primarily because they don’t speak Cantonese.

Is HK a good place to live?

Hong Kong has one of the lowest crime rates in the world despite the territory having one of the most densely populated urban regions. Often described as one of the safest cities in the world, low crime rates make Hong Kong the perfect place for you to settle down.

Do expats pay tax in Hong Kong?

Among the many reasons Hong Kong remains a popular place for both expatriates and for corporations is their favorable system of taxation. The Hong Kong tax rate is progressive, and capped at a rate of 17%. This is significantly lower than many taxes in western nations, inclusive of United States expat tax.

How is life in Hong Kong for expat?

The expat community is small and no matter what you do for a living, meeting friendly like-minded people is easy. Everyone has business cards here and it’s considered impolite if heading out and not taking a handful with you for the chance encounter that you may have.

What is a good salary in Hong Kong?

A HK$1.5 million yearly income would mean a monthly salary of HK$125,000. According to the Population Census last year, only 4.2 per cent of the working population earn more than HK$60,000 a month, the highest category in the report. Hongkongers on average earn HK$12,800 per month.

Where do expats hang out in Hong Kong?

Best Hong Kong nightlife areasLan Kwai Fong. Most expat nightlife tends to be on Hong Kong Island and Lan Kwai Fong is the jewel in the party crown. … Soho. For more sophistication, Soho is next to LKF. … Wan Chai. … Kowloon.

Is 30000 hkd a good salary?

If you want a more decent place to live in, say 500 sq feet in downtown, HKD 30k (your whole salary) may not be enough. … So, IMHO, if your company provides housing for you, I think HKD 30000 is OK, not very nice, but OK, and you should be able to live a comfortable life.

Is it a good idea to move to Hong Kong?

Another reason why you should consider moving to Hong Kong is the diverse atmosphere. The mix of high-end skyscrapers just a ferry ride from island beaches, and the ease of communicating in English makes Hong Kong a dream destination for many expats.

Are Hong Kong people friendly?

Hong Kongers are very polite and respectful one on one, but when you’re anonymous in public and part of a crowd, don’t expect anyone to stop from running you over. I got this twice. Why should I not speak mandarin? Generally speaking, people are quite friendly if you approach them directly and in English or Cantonese.

How much is average rent in Hong Kong?

The average rent for a one-bedroom apartment in Hong Kong can range from 12,000 to 20,000 HKD (1,500 to 2,500 USD) or more per month. On the upside, most apartments easily meet the highest standards of living.

What is a good expat salary in Hong Kong?

Email to Friend. Expatriates in Hong Kong earn the highest salaries in the Asia Pacific – an average of about HK$1.4 million annually – but Singapore is still considered a better destination for them.

Why is it so expensive to live in Hong Kong?

It’s no secret Hong Kong is one of the most tax-friendly economies in the world. One of the reasons the government can keep taxes so low is because a large chunk of its revenues come from land sales. … In fact, if property values dropped too much, the government could even have to rethink its tax revenue system.

Is food expensive in Hong Kong?

While meal prices in Hong Kong can vary, the average cost of food in Hong Kong is HK$205 per day. Based on the spending habits of previous travelers, when dining out an average meal in Hong Kong should cost around HK$82 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

Is Hong Kong safe for expats?

Hong Kong has been successful in containing the coronavirus, with only four deaths and just over 1,100 confirmed cases. Until protests started again in May, it was seen as a safe haven of sorts in 2020.